You do not have to be a business magnate to realise that entrepreneurs are the engine that drives the economy of our country. Funding for entrepreneurs needs to be a priority. Without the inputs of entrepreneurs in South Africa, it will have a negative impact on the economy. The value of the man with an idea has been overlooked for too long. It is time to give that idea of yours wings. That will aid in uplifting our countries economy and inspire others to do the same.
The great thing is that you do not have to look that far to find opportunities for the business starting out. It is as simple as searching the internet to find possible programmes, investors or companies that can direct you to possible investors. The key is to do thorough research about companies that are offering to fund. Also be sure to consult with someone if you are unsure about a certain aspect. Rather be safe than to rush into a possible opportunity for funding. Not everything on the internet can be trusted that easily. Especially when it involves money. Find out a how to Register a Company using our trusted and simple online process.
Even though your idea might seem wonderful and a success in the making, it will still take time to reach the heights it is destined for. Therefore it is crucial to always remember to start small and to work your way up. The expression ‘Climbing the ladder to success’ does not start with the word ‘climbing’ just for the fun of it. It starts with that for a reason. You will need to work your way up and be prepared to face certain challenges. At the end of the day, all your hard work will be rewarded and not just be a dream anymore. You need to climb that ladder to enjoy the view of success.
One of the many concerns when starting your own business is to get the needed funding. According to Dr Mike Herrington, who a leader at the Global Entrepreneurship Monitor, capital is just as available in South Africa as in other countries. There is no need to be de-motivated or to take your brilliant entrepreneurial idea to another country.
As an entrepreneur, you should be prepared when pitching your idea to a possible investor. According to the Entrepreneurial Magazine, it is best to have your business planned out before pitching. Remember to have your business plan at hand for the investors or the company that will provide you with the funds needed. This alone will tell them that you are serious about doing business with them. SEDA is a South African government based organisation, which assists entrepreneurs with business plans and funding.
Many people in the finance sector warn that entrepreneurs should be aware that they will not always get the funding that they want. This is not something to be afraid of. See it rather as a tool to motivate you to work harder and planning better. Be sure to have the needed skills, ideas and drive to ensure that you are approved for that funding that you need.
Even if the needed funding is acquired the idea must still be put into action. The funds should carefully be allocated to the different areas to ensure maximum utilization. Another crucial point for ensuring the success of the business and utilization of the funds are the skills of the entrepreneur. This is an essential part to ensure the progression and ultimately the success of the idea. Funding does not compare to the entrepreneurial drive and qualities needed in a person starting up a new business. Without these characteristics and plans in place, it is very unlikely that the idea will succeed and be profitable.
During a survey in 2008, it was estimated that the entrepreneurial activity in South Africa stood at about 7,8%. This is far less than the activity in other countries like Colombia (24,5%) and Mexico (13,1%). It is easy to make the assumption that South Africa still holds a lot of potential for entrepreneurs. You just need the right mix of will power, dedication, hard work and funding. Entrepreneurs can start the Company Registration process on this website.
Do not look at all the things that can go wrong. Rather focus on your idea and develop it so that it can overcome any obstacle that is thrown in its way. It is absolutely essential to stay positive and not to lose momentum with setbacks. Setbacks are just a method of learning and to prevent the same thing from happening in the future. And always remember, “If you never chase your dreams, you will never catch them.”